Perkins Company, which has a standard cost system, had 500 pounds of raw material X in its inventory on June 1, purchased in May for $1.20 per pound and carried at a standard cost of $1.00 per pound. The following information pertains to raw material X for the month of June: Actual pounds purchased 1,400 Actual pounds used 1,500 Standard pounds allowed for actual production 1,300 Standard cost per pound $1.00 Actual cost per pound $1.10 Compute the direct materials price variance for raw material X for June. Example of Answer: 4000U or 4000F (No comma, space, decimal point or $sign